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North America’s EV Battery Manufacturing Capacity Set to Quadruple by 2030

North America’s electric vehicle (EV) battery manufacturing capacity is set to expand dramatically in the coming years, setting the stage for widespread electrification. According to Argonne National Laboratory’s latest forecast, detailed in their report “Quantification of Commercially Planned Battery Component Supply in North America through 2035,” the region’s lithium-ion EV battery cell production is expected to surpass 1,200 gigawatt-hours (GWh) annually by 2030. This marks a 20% increase from the 1,000 GWh forecasted a year ago, reflecting the sum of announced battery plant investments.

In 2023, experts projected that North America’s EV battery manufacturing capacity would reach around 300 GWh annually, indicating that the industry is poised to quadruple within the next six years.

Moreover, the anticipated 1,200 GWh of battery capacity would be sufficient to produce approximately 12 million new all-electric vehicles, assuming an average battery capacity of 100 kilowatt-hours (kWh) per vehicle. If the average battery capacity is 80 kWh, this figure rises to 15 million vehicles. For context, U.S. all-electric car sales exceeded 1.1 million in 2023, indicating the potential for a tenfold increase in market size.

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